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Chinese firm invests Rp 422 billion in local fertility clinic Morula
According to Health Ministry data, around 4.2 million couples in Indonesia, or between 10 and 15 percent of all couples in the country, have fertility issues.
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PT Bundamedik and China-based Jinxin sign a strategic collaboration agreement in Jakarta on July 18, 2024. (PT Bundamedik/-)
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inxin Fertility Group Ltd has purchased new and existing shares in local fertility service provider PT Morula Indonesia for Rp 422 billion (US$26 million).
Following the deal, which was signed on July 16, the Chinese healthcare firm will hold 30 percent of Morula while Morula’s parent company PT Bundamedik will see its ownership decrease from 63 to 47.25 percent.
“We would combine a significant amount of skills and resources and a common mission, as well as strengthen our commitment to being the leader in the assisted reproductive technology (ART) sector,” Morula president director Ivan Rizal Sini said in a statement on Friday.
Read also: Govt looks to hospital-based education to solve specialist doctor shortage
Founded in 1997, Morula is one of the largest fertility clinic networks in Indonesia with 10 branches in Greater Jakarta, Bandung, Yogyakarta, Surabaya, Bali, Makassar, Pontianak and Padang. Beside Morula, Bundamedik also operates general hospitals in various cities under the Bunda brand.
The clinic provides various assisted reproductive service, such as in vitro fertilization (IVF), where mature eggs are collected from ovaries and fertilized by sperm outside the female’s body, and intra uterine insemination (IUI), where prepared sperm is placed directly in the uterus to boost the chance of pregnancy.
Last year, Morula reported Rp 486.5 billion in revenue, a 12.3 percent drop from the previous year. However, its gross margin improved from 51.7 percent in 2022 to 63.6 percent in 2023, due to a decrease in the cost of goods sold.
